Aliko Dangote, Chief Executive Officer of Dangote Refinery, recently disclosed that his company secured a total of $2.7 billion in forex allocations from the Central Bank between 2013 and 2023, a statement that offers a peek into the financing of his flagship project.
In a statement at the refinery’s Lagos site, the billionaire explained that the refinery was primarily funded through the company’s own resources, with only minimal external assistance. Dangote noted that the decision to forgo external financing was driven by the challenges of securing funding from international creditors.
